7031 NE 175th St #5 · Kenmore, WA 98028

$44,950

2 bd · 1.5 ba · 924 sqft · Manufactured · 12 Days on market

Built 1983 Fair condition $49/sqft · 45% below area Est $82k · 45% under ↓ 50% since listing

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• Schools +6.7/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.3/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Knock! Knock! Affordable Kenmore living offering a functional floor plan, a 2-bedroom 1.5 baths home in Lakewood Villa MH 55+ Park, a quiet and convenient community. Ideal for buyers seeking an affordable homeownership alternative in the Northshore area. Walk-in shower, stacked washer and dryer, forced air heating and a wood stove, A/C, generator at the flip of a switch, and a large shed for your hobbies, storage, or side hustle. Covered front porch, extra parking, and patio. Lots of extra storage. Bring your vision and a little tlc to make it your own. Low space rent at $1013/month. A compelling opportunity for downsizers and investors alike. Updated Community Clubhouse and pool. Pets are

Key facts

• Covered front porch
• A/c
• Large shed

Tags

• A/C
• GENERATOR
• LARGE SHED
• WALK IN SHOWER
• STACKED WASHER AND DRYER
• COVERED FRONT PORCH

Property features AI

Finance

• Other: Manufactured home approved for sale in the park; Senior exemption applies
• Financial info: Accepted listing terms: Cash, Conventional; Land lease amount: $1,013 (monthly)
• HOA & community: Located in a senior community (Lakewood Villa); Park amenities include BBQs, clubhouse, common area, community waterfront, laundry, and pool; Approximately 50 homes in the park; Land lease in park (monthly)

Exterior

• Parking: Uncovered parking; 3 open parking spaces
• Utilities: Public water; Public sewer; Electric service (Puget Sound Energy); Energy sources: Electric and wood
• Home design: Manufactured single-wide home; One level; Faces east; Fixer condition; Model: Homet 66/14; Mobile home remains in place
• Construction: Metal roof; Metal/vinyl construction materials; Tie-down foundation
• Exterior features: Metal/vinyl exterior; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: One three-quarter bathroom; One half bathroom; One shower
• Heating & cooling: Forced air heating; Window air conditioning unit(s)
• Interior features: Wood-burning fireplace; Water heater (electric)
• Laundry & utility: Washer; Dryer; Water heater located in closet

🏷️ Possibly a rental listed for sale. The $44,950 price doesn't fit this home's estimated sale value (~$81,873) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $45k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Cap rate 44.1% vs local median 1.6% in Kenmore — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 86/100 on livability (#21 in WA, #427 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Northshore School District (suburban): math 69% / reading 78% proficiency, ranked #9 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Kenmore Elementary (424 students, 44% FRL); Inglemoor Hs (1,542 students, 20% FRL) — zoned schools average 32% FRL vs 12% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 193 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,950

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.87% ✓
• Cap rate: 44.14%
• Cash-on-cash: 135.17%
• DSCR: 7.01
• GRM: 1.7

CMA / ARV

• ARV (median comp): $81,873
• List price: $44,950
• Delta: -40.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7031 NE 175th St #33	0.00mi	2/1.0	860 (-7%)	7mo	$78,000	$91	81
7614 NE Bothell Way #14	0.35mi	2/1.5	980 (+6%)	17mo	$140,000	$143	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.09% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.11×
• Total profit: $76,864
• Equity at exit: $6,702

10-year hold

• IRR: —
• Equity multiple: 14.51×
• Total profit: $170,048
• Equity at exit: $3,886

Cash invested: $12,586 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 98028

• Rents YoY: 2.1%
• Active inventory: 193
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,188 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $1,351

Break-even live

Break-even rent $477

Max offer price $44,950

Occupancy floor 33%

Sensitivity live

Price	-10% $1,382	-5% $1,367	+0% $1,351	+5% $1,336	+10% $1,320
Rent	-10% $1,178	-5% $1,265	+0% $1,351	+5% $1,438	+10% $1,524
Rate	-1.0pp $1,374	-0.5pp $1,363	base $1,351	+0.5pp $1,340	+1.0pp $1,328

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $11,238
• Closing costs: $1,348
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7345 NE 175th St Kenmore, WA	1.0	1.0	760	$1,850	$2.43	25d	1	0.22mi
7208 NE 182nd St Unit 7206 Kenmore, WA	1.0	1.0	888	$2,000	$2.25	3d	1	0.29mi
18235 73rd Ave NE Kenmore, WA	1.0–2.0	1.0	787	$1,850	$2.35	6d	4	0.31mi
18151 68th Ave NE Kenmore, WA	1.0	1.0	720	$2,194	$3.05	0d	4	0.32mi
18249 73rd Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	827	$2,400	$2.90	0d	6	0.35mi
6711 NE 182nd St Kenmore, WA	1.0–2.0	1.0–2.0	899	$2,587	$2.88	0d	9	0.36mi
7711 NE 175th St Kenmore, WA	1.0	1.0	709	$1,874	$2.64	3d	1	0.37mi
6410 NE 181st St Kenmore, WA	2.0	1.0	910	$2,500	$2.75	44d	1	0.51mi
17525 80th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	900	$1,999	$2.22	6d	4	0.55mi
18930 68th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	799	$2,497	$3.13	0d	7	0.62mi
17527 83rd Pl NE Kenmore, WA	2.0	2.0	900	$1,990	$2.21	6d	1	0.75mi
17512 83rd Pl NE Kenmore, WA	1.0–2.0	1.0–2.0	850	$2,250	$2.65	3d	4	0.82mi
8700 NE Bothell Way Bothell, WA	1.0–3.0	1.0–2.0	1038	$2,090	$2.01	0d	8	1.02mi
15914 84th Ave NE Unit C Kenmore, WA	2.0	1.0	850	$1,975	$2.32	44d	1	1.22mi
17725 Hall Rd Bothell, WA	1.0–2.0	1.0	772	$1,950	$2.52	0d	2	1.48mi

Listing history 18 events

1. 2026-06-21
   days on market $44,950 Active 12 DOM
2. 2026-06-18
   days on market $44,950 Active 9 DOM
3. 2026-06-17
   days on market $44,950 Active 8 DOM
4. 2026-06-16
   days on market $44,950 Active 7 DOM
5. 2026-06-15
   days on market $44,950 Active 6 DOM
6. 2026-06-13
   days on market $44,950 Active 4 DOM
7. 2026-06-13
   days on market $44,950 Active 3 DOM
8. 2026-06-10
   remarks 699-char remark
9. 2026-06-10
   pricedays on marketlisting id $44,950 Active 1 DOM
10. 2026-05-05
    price $49,000
11. 2026-04-18
    price $54,900
12. 2026-03-02
    price $59,000
13. 2026-01-05
    listed $65,000 Active
14. 2022-07-21
    soldstatus $86,000 Closed
15. 2022-06-21
    status Pending
16. 2022-05-12
    status Active
17. 2022-05-04
    status Pending
18. 2022-05-02
    listed $90,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,253
• − Mortgage interest: −$2,518
• − Property taxes: −$674
• − Insurance: −$1,022
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − Depreciation: −$1,308
• Taxable income: $16,530
• Est. tax owed @ 24.0%: −$3,967
• After-tax cash flow: $12,247/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Fair 50/100 Cosmetic rehab

This mobile home is in fair condition with cosmetic updates needed. Fresh paint and landscaping can significantly improve its curb appeal and value.

Repairs flagged

• Minor paint — paint appears faded
• Minor landscaping — small garden area

Value-add opportunities

• Both paint — Fresh paint can improve the home's curb appeal and interior aesthetics
• Both landscaping — A well-maintained garden can enhance the home's curb appeal and add value

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · paint appears faded	Minor	$500–3,000
landscaping · small garden area	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint — Fresh paint can improve the home's curb appeal and interior aesthetics ↑
• Both landscaping — A well-maintained garden can enhance the home's curb appeal and add value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Northshore School District
• NCES district ID: 5305910
• Math proficiency: 69% ▼ -3.00%
• Reading proficiency: 78% ▼ -1.00%
• Median HH income: $92,951
• Composite: 67.41/100
• National rank: #826
• State rank: #9 of 291 in WA

Livability — Kenmore

• Score: 86/100
• State rank: #21
• US rank: #427

Category grades

Amenities A+ Commute A+ Cost of living F Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenmore, WA
• County: King County · 2,251,916 people
• City population: 23,741
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 23,741
• Household income: $139,764
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 557.0

Population outlook (King County) Hauer SSP2

• Today (2025): 2,576,485 people
• By 2030: 2,803,316 · +8.8%
• By 2040: 3,255,921 · +26.4%
• By 2050: 3,706,444 · +43.9%
• By 2075: 4,746,063 · +84.2%
• By 2100: 5,407,730 · +109.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Asian 15% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 5% Italian 4% Slovak 2%
• Foreign-born: 22% · Canada, China, South Korea
• Languages at home: 73% English-only · Spanish 7% Chinese 5% Other Indo-European 3%

Political lean MEDSL · King

• 2024 margin: Solid D (+51.7) · D 74.2% · R 22.5% · Other 3.4%
• 2008→2024 swing: +9.6pp toward D · 2008: 42.1pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.7 2016: D+50.4 2012: D+39.9 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -907.61%
• Current HPI: 392.3867
• Rent YoY: ▲ 2.09%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

-50.1% since first listed

6 events — show timeline

• 2026-06-09 Listed $44,950 NWMLS as Distributed by MLS Grid
• 2022-07-21 Sold (MLS) $86,000 NWMLS as Distributed by MLS Grid
• 2022-06-21 Pending — NWMLS as Distributed by MLS Grid
• 2022-05-12 Relisted — NWMLS as Distributed by MLS Grid
• 2022-05-04 Pending — NWMLS as Distributed by MLS Grid
• 2022-05-02 Listed $90,000 NWMLS as Distributed by MLS Grid